Toronto Dominion Bank Has $7.98 Million Position in Incyte Co. (INCY)

Toronto Dominion Bank boosted its position in Incyte Co. (NASDAQ:INCY) by 1.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 115,547 shares of the biopharmaceutical company’s stock after purchasing an additional 2,051 shares during the quarter. Toronto Dominion Bank owned about 0.05% of Incyte worth $7,980,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Shikiar Asset Management Inc. grew its holdings in Incyte by 534.2% in the 2nd quarter. Shikiar Asset Management Inc. now owns 113,200 shares of the biopharmaceutical company’s stock valued at $7,584,000 after buying an additional 95,350 shares during the period. Verition Fund Management LLC grew its holdings in shares of Incyte by 247.4% during the 2nd quarter. Verition Fund Management LLC now owns 20,377 shares of the biopharmaceutical company’s stock worth $1,365,000 after purchasing an additional 14,511 shares during the period. Baird Financial Group Inc. grew its holdings in shares of Incyte by 93.3% during the 2nd quarter. Baird Financial Group Inc. now owns 57,759 shares of the biopharmaceutical company’s stock worth $3,870,000 after purchasing an additional 27,886 shares during the period. Nisa Investment Advisors LLC grew its holdings in shares of Incyte by 75.4% during the 3rd quarter. Nisa Investment Advisors LLC now owns 37,382 shares of the biopharmaceutical company’s stock worth $2,582,000 after purchasing an additional 16,070 shares during the period. Finally, First Trust Advisors LP grew its holdings in shares of Incyte by 80.8% during the 3rd quarter. First Trust Advisors LP now owns 1,546,098 shares of the biopharmaceutical company’s stock worth $106,804,000 after purchasing an additional 691,111 shares during the period. 93.21% of the stock is owned by hedge funds and other institutional investors.

In other Incyte news, Director Jean Jacques Bienaime bought 1,000 shares of the business’s stock in a transaction on Thursday, November 8th. The shares were bought at an average cost of $68.77 per share, with a total value of $68,770.00. Following the transaction, the director now directly owns 6,168 shares in the company, valued at approximately $424,173.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Paul Trower sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 3rd. The shares were sold at an average price of $70.00, for a total value of $700,000.00. Following the completion of the transaction, the insider now directly owns 24,172 shares in the company, valued at $1,692,040. The disclosure for this sale can be found here. Insiders have sold a total of 21,000 shares of company stock worth $1,502,100 over the last three months. 17.20% of the stock is currently owned by corporate insiders.

A number of brokerages have recently issued reports on INCY. Argus set a $83.00 target price on Incyte and gave the stock a “buy” rating in a report on Thursday, August 30th. BidaskClub upgraded Incyte from a “buy” rating to a “strong-buy” rating in a report on Friday, August 31st. Cowen reiterated a “buy” rating on shares of Incyte in a report on Tuesday, September 4th. Raymond James reiterated a “buy” rating on shares of Incyte in a report on Friday, July 27th. Finally, Cantor Fitzgerald began coverage on Incyte in a report on Monday, October 1st. They set a “neutral” rating and a $73.00 target price for the company. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. Incyte has an average rating of “Hold” and an average target price of $94.48.

Incyte stock opened at $64.07 on Friday. The company has a market cap of $13.63 billion, a P/E ratio of 100.11 and a beta of 1.12. The company has a current ratio of 4.02, a quick ratio of 4.01 and a debt-to-equity ratio of 0.01. Incyte Co. has a one year low of $58.33 and a one year high of $102.63.

Incyte (NASDAQ:INCY) last released its quarterly earnings results on Tuesday, October 30th. The biopharmaceutical company reported $0.38 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.02). The company had revenue of $449.68 million for the quarter, compared to analyst estimates of $448.34 million. Incyte had a positive return on equity of 2.23% and a negative net margin of 6.07%. The business’s revenue was up 17.9% on a year-over-year basis. During the same period last year, the firm posted $0.19 earnings per share. Sell-side analysts expect that Incyte Co. will post 0.43 EPS for the current year.

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Incyte Profile

Incyte Corporation, a biopharmaceutical company, focuses on the discovery, development, and commercialization of proprietary therapeutics in the United States. It offers JAKAFI, a drug for the treatment of myelofibrosis and polycythemia vera cancers; and ICLUSIG, a kinase inhibitor for the treatment of chronic myeloid leukemia and philadelphia-chromosome positive acute lymphoblastic leukemia.

Further Reading: Balanced Fund

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Institutional Ownership by Quarter for Incyte (NASDAQ:INCY)

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